无房者要笑了，拥多套房子的家庭，将面临三大困惑

Core Viewpoint - The Chinese real estate market is undergoing a significant adjustment, with previously high property prices showing signs of decline, providing hope for those without homes [1]. Group 1: Historical Context of Property Prices - Property prices in first-tier cities like Beijing, Shanghai, and Shenzhen have reached levels around 6 to 7 million yuan, making home ownership unattainable for many [3]. - In second-tier cities such as Hangzhou and Wuhan, prices range from 2 to 3 million yuan, while even third and fourth-tier cities require around 1.5 million yuan for a standard property [3]. - The average monthly income for most residents is between 3,000 to 6,000 yuan, highlighting a significant gap between income and housing affordability [3]. Group 2: Recent Market Trends - Since the second half of last year, the real estate market has shown signs of cooling, with the national average property price dropping from 11,100 yuan per square meter to 9,526 yuan as of May this year, a decline of over 15% [5]. - Data from the National Bureau of Statistics indicates that in 70 major cities, 34 cities have seen property prices revert to two years ago, 27 cities to three years ago, and 6 cities to five years ago [6]. Group 3: Implications for Homebuyers and Property Owners - The decline in property prices is a positive development for those without homes, bringing them closer to the possibility of home ownership [8]. - In contrast, families owning multiple properties face challenges, with over 41% of households owning two or more properties [10]. - The number of vacant homes in China has reportedly exceeded 100 million, enough to accommodate 300 to 400 million people, exacerbating the issue for property owners [10]. Group 4: Challenges for Property Owners - Property owners are at risk of asset depreciation as the downward trend in prices spreads from northern to southern cities and from lower-tier to higher-tier cities [11]. - Older properties, particularly those over 20 years old, are facing decreased demand due to bank loan restrictions, increasing the likelihood of asset loss for owners [11]. - The cost of holding properties is rising, with ongoing mortgage payments and the impending expansion of property tax trials, which will further increase costs for property investors [11].